Akorn, Inc. (AKRX) Given Average Recommendation of “Hold” by Analysts

Akorn, Inc. (NASDAQ:AKRX) has been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $29.17.

Several analysts recently issued reports on the company. Zacks Investment Research cut Akorn from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub cut Akorn from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 20th. Piper Jaffray Companies set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research note on Sunday, October 22nd. Finally, Jefferies Group set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research note on Sunday, October 29th.

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In other Akorn news, major shareholder John N. Kapoor sold 13,629 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $32.67, for a total value of $445,259.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Tambi sold 15,100 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total transaction of $503,585.00. The disclosure for this sale can be found here. Company insiders own 28.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new position in shares of Akorn during the fourth quarter valued at approximately $199,000. LMR Partners LLP purchased a new position in shares of Akorn during the third quarter valued at approximately $200,000. Cubist Systematic Strategies LLC purchased a new position in shares of Akorn during the second quarter valued at approximately $209,000. Suntrust Banks Inc. purchased a new position in shares of Akorn during the second quarter valued at approximately $234,000. Finally, Bluefin Trading LLC purchased a new position in shares of Akorn during the second quarter valued at approximately $268,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Shares of Akorn (AKRX) opened at $32.33 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.16 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $4,040.00, a PE ratio of 54.80, a P/E/G ratio of 1.66 and a beta of 1.33. Akorn has a 12 month low of $19.15 and a 12 month high of $34.00.

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About Akorn

Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.